Next Century Growth Investors LLC decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.0% during the second quarter, Holdings Channel.com reports. The fund owned 3,386 shares of the retailer’s stock after selling 141 shares during the quarter. Next Century Growth Investors LLC’s holdings in Costco Wholesale were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COST. Baillie Gifford & Co. bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $31,000. KB Financial Partners LLC bought a new stake in Costco Wholesale during the 1st quarter worth approximately $35,000. West Financial Advisors LLC raised its stake in Costco Wholesale by 100.0% during the 2nd quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock worth $40,000 after acquiring an additional 50 shares during the period. PNC Managed Account Solutions Inc. bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $42,000. Finally, FFT Wealth Management LLC purchased a new stake in Costco Wholesale during the 2nd quarter valued at approximately $48,000. Institutional investors own 66.96% of the company’s stock.
A number of equities research analysts have issued reports on COST shares. Raymond James increased their price objective on shares of Costco Wholesale from $460.00 to $490.00 and gave the company an “outperform” rating in a report on Friday, September 24th. Tigress Financial reaffirmed a “buy” rating and set a $520.00 price objective on shares of Costco Wholesale in a report on Wednesday, September 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Costco Wholesale from $424.00 to $468.00 and gave the company a “hold” rating in a report on Thursday, October 7th. Loop Capital raised their target price on shares of Costco Wholesale from $455.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $500.00 price objective on shares of Costco Wholesale in a research note on Friday, September 17th. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $469.83.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.57 by $0.33. The company had revenue of $61.44 billion during the quarter, compared to the consensus estimate of $61.45 billion. Costco Wholesale had a return on equity of 27.30% and a net margin of 2.53%. Costco Wholesale’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.13 earnings per share. On average, equities research analysts forecast that Costco Wholesale Co. will post 10.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Friday, October 29th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.70%. Costco Wholesale’s payout ratio is 35.71%.
In other news, VP Joseph P. Portera sold 3,287 shares of the company’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $445.50, for a total transaction of $1,464,358.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.
Costco Wholesale Profile
Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.
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